United Kingdom GDP Annual Growth Rate 1956-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United Kingdom expanded 2.40 percent in the first quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in the United Kingdom averaged 2.46 percent from 1956 until 2015, reaching an all time high of 9.80 percent in the first quarter of 1973 and a record low of -5.80 percent in the first quarter of 2009. GDP Annual Growth Rate in the United Kingdom is reported by the Office for National Statistics.

      Forecast
United Kingdom GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
2.40 3.00 9.80 -5.80 1956 - 2015 percent Quarterly
From 1993 to 2007 the United Kingdom has reported an average annual rate of growth of 3.3 percent. Yet, since the recession in 2008 and 2009 the growth has been sluggish and in the last three years averaged meager 0.9 percent. This page provides - United Kingdom GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United Kingdom GDP Annual Growth Rate - was last refreshed on Monday, May 25, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-02-26 09:30 AM Q4 2.7% 2.6% 2.7% 2.7%
2015-03-31 09:30 AM Q4 3.0% 2.8% (R) 2.7% 2.7%
2015-04-28 09:30 AM Q1 2.4% 3.0% 2.6% 2.82%
2015-05-28 09:30 AM Q1 3.0% 2.5% 2.4%
2015-06-30 09:30 AM Q1 3.0%
2015-07-28 09:30 AM Q2 2.9%


UK GDP Growth at 2-Year Low


The British economy grew 2.4 percent year-on-year in the first three months of 2015, the lowest in five quarters, dragged down by a fall in mining and construction and a slowdown in services and manufacturing.

Preliminary estimates showed the mining sector posted the largest drop (-3.2 percent), followed by water supply and sewerage (-2.8 percent) and construction (-0.8 percent).

Manufacturing grew 1.3 percent, down from 2.6 percent in the last three months of 2014 while business services and finance eased to 3.4 percent from 4.1 percent in Q4 2014. Activities in distribution, hotels and restaurants increased 4.7 percent, 0.5 percent lower than in the December quarter of 2014.

In contrast, utilities grew 3.3 percent, rebounding from a 3.7 percent drop in the last quarter of 2014. Transport, storage and communication grew at a faster 5 percent from 4.3 percent in Q4 and government services rose 0.8 percent, the same as in the previous quarter.

On a quarterly basis, the economy expanded 0.3 percent, the weakest pace since the last quarter of 2012 when the economy shrank 0.3 percent and far below market expectations. 

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
4/28/2015 10:22:24 AM


Recent Releases

UK Economy Expands 2.8% in 2014
The British GDP advanced 3 percent year-on-year in the last quarter of 2014, up from a 2.7 percent preliminary estimate as net trade contributed positively to the growth and the services sector continued to power the economy. Published on 2015-03-31

UK GDP Growth Confirmed at 7-Year High
The British economy advanced 2.7 percent year-on-year in the last quarter of 2014, unchanged from the preliminary estimate. It is the highest growth rate since the last three months of 2007, driven by rise in consumption, investment and net trade. Published on 2015-02-26


United Kingdom GDP Last Previous Highest Lowest Unit
GDP 2522.26 2461.77 2857.08 72.33 USD Billion [+]
GDP Growth Rate 0.30 0.60 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.40 3.00 9.80 -5.80 percent [+]
GDP Constant Prices 430962.00 429673.00 430962.00 102335.00 GBP Million [+]
Gross National Product 442160.00 438319.00 442160.00 4776.00 GBP Million [+]
GDP per capita 37955.11 37569.79 40230.96 13478.93 USD [+]
Gross Fixed Capital Formation 73618.00 73016.00 75836.00 13015.00 GBP Million [+]
GDP per capita PPP 35013.27 34657.81 37112.75 23542.10 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Nov/14 -0.60 10.10 -3.15 percent [+]
Canada 2.63 Nov/14 2.75 8.80 -3.70 percent [+]
China 7.00 Feb/15 7.30 14.20 3.80 percent [+]
Euro Area 1.00 Feb/15 0.90 5.00 -5.60 percent [+]
France 0.70 Feb/15 0.00 12.50 -3.92 percent [+]
Germany 1.10 Feb/15 1.60 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 4.71 Feb/15 5.01 7.16 1.56 percent [+]
Italy 0.00 Feb/15 -0.50 10.30 -6.90 percent [+]
Japan -1.40 Feb/15 -0.90 9.40 -9.40 percent [+]
Mexico 2.50 Feb/15 2.60 8.50 -8.10 percent [+]
Netherlands 2.40 Feb/15 1.40 5.80 -4.40 percent [+]
Russia -1.90 Feb/15 0.40 12.10 -11.20 percent [+]
South Korea 2.40 Feb/15 2.70 18.20 -7.30 percent [+]
Spain 2.60 Feb/15 2.00 5.80 -4.40 percent [+]
Switzerland 1.90 Nov/14 1.90 7.30 -3.70 percent [+]
Turkey 2.60 Nov/14 1.90 12.60 -14.70 percent [+]
United Kingdom 2.40 Feb/15 3.00 9.80 -5.80 percent [+]
United States 3.00 Feb/15 2.40 13.40 -4.10 percent [+]